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Croatian Exports Increase 10.5%

Croatian exports for the first nine months of the year have increased by 10.5% compared to the same period in 2014.

According to the National Bureau of Statistics, 64.12 billion kuna (€8.4 billion) worth of goods were exported between January and September, 6.09 billion (€800 million) more than the same period last year.

The export data also shows that exports to outside the EU only grew 2.7%, whereas exports to within the EU grew by an impressive 15%, possibility reflecting the country’s 2013 accession.

Croatian imports have increased at a slower rate. 104.5 billion kuna (€13.7 billion) worth of goods were imported for the first nine months of the year. This is 5.4 billion kuna (€710 million) more, representing a 5.5% increase.

The Croatian economy has in 2015, emerged from six consecutive years of economic recession, that removed 12% of its GDP. Whilst it is slowly crawling out of this now, the rate of growth may not exceed 1% for 2015.

In addition, there has just been an election with a likely change of government and some potential political instability, that could affect progress.